At the 2023 Annual Meeting of Shareholders on Wednesday, April 19, Regions Board Chair Charles McCrary introduced retiring Director Samuel Di Piazza and thanked him for his outstanding leadership and diligent service.
“Sam, we will certainly miss the sound judgment, strategic guidance, and astute insight that you have provided; the personal and professional integrity that you have exemplified; and the unwavering commitment that you have demonstrated as a director,” McCrary said. “We express our most sincere admiration and gratitude for your lasting contributions to Regions and wish you all the best.”
Di Piazza began his Regions board service in 2016 and has served on the Audit Committee and the Compensation and Human Resources Committee his entire tenure. In April 2021, he began serving as Compensation and Human Resources Committee Chair.
When Di Piazza joined the board, the company was still emerging from the financial crisis and, according to Di Piazza, was developing the culture and processes to operate in a new regulatory and economic environment. He expressed the deep satisfaction he has felt watching the company evolve from that challenging period.
“Regions’ leadership committed wholeheartedly to emerge from that difficult time as a stronger bank, focused on customers and representing the best of values within the financial services sector,” Di Piazza said. “They implemented initiatives to increase efficiency and effectiveness and they accepted the obligation of the management of risks and the need for profitable growth – all while building a strong culture.”
When asked about specific changes that he’s most pleased about, Di Piazza didn’t hesitate in his response. “I am proud of the progress the leadership and our thousands of colleagues have made in furthering the Regions culture while becoming a leader among our regional banking peers in both returns and customer satisfaction,” he said.
He added that the bank’s efforts around risk management, business diversification, digital banking and diversity, equity and inclusion are also highlights. “Regions is a much more diverse and innovative institution today than it was five or ten years ago,” he said. “It’s very important for our workforce to reflect the communities we serve.”
Prior to his Regions board service, Di Piazza had a remarkable career in the financial sector. He served as vice chairman of the Global Corporate and Investment Bank at Citigroup, Inc. from 2011 until his retirement in 2014. Before joining Citigroup, he was a partner at PricewaterhouseCoopers, where he served in multiple leadership roles, including Global CEO.
Di Piazza has served on many industry and nonprofit boards, including the Financial Accounting Foundation and the International Accounting Standards Committee Foundation. He is a former director on the United Nations Global Compact Board and former Chairman of the World Business Council for Sustainable Development.
Currently, he serves on the boards of Mother Francis Cabrini Health Foundation and Seton Education Partners, and recently completed many years of service on the boards of the Mayo Clinic and the National September 11th Memorial and Museum.
A Birmingham, Alabama, native, Di Piazza earned a Bachelor of Science degree in Accounting and Economics at the University of Alabama and a Master of Tax Accounting degree at the University of Houston.
But according to Di Piazza, his tenure at Regions is another high point in his professional career.
My time as a member of the Regions Board has been personally very fulfilling and intellectually an amazing journey. It allowed me to work with a group of world-class leaders, starting with Grayson Hall and then John Turner.Samuel Di Piazza, retiring Director
“My time as a member of the Regions Board has been personally very fulfilling and intellectually an amazing journey,” he said. “It allowed me to work with a group of world-class leaders, starting with Grayson Hall and then John Turner. The board is diverse, curious, and very hard-working and they have made me a better board member and professional. But more than anything, being part of the Regions family has made me a better, values-driven person, committed to serving our community.”
Regions President and CEO John Turner returned the praise, saying, “Sam has been instrumental in our journey to be a leading financial institution. His leadership and counsel have been extremely beneficial to our management team, our associates, and ultimately our customers and shareholders. We are grateful for his service, and we certainly wish him the best.”
Di Piazza remains confident and optimistic about the future of Regions and the industry. When asked about the recent bank failures and disruption, he said, “Regions is well capitalized, has ample liquidity and diversity on both sides of the balance sheet. But more importantly, it balances risk and opportunity very, very well. As a strongly capitalized bank with a granular and diversified deposit base and solid consumer and corporate customers, Regions has great opportunities ahead.”
As his parting words, Di Piazza offered some practical advice for leaders and associates that is especially timely and relevant as the bank begins a period of transformation and innovation:
“While remaining focused on our customers and our communities, it is critical that Regions continues to look for ways to be distinctive in the marketplace. The banking sector is highly competitive. Size is not everything, but our size requires a bank like Regions to be focused on the value it brings its stakeholders, including its investors, communities and people. Do not be afraid to innovate.”